re: Ann: Trading Update and Appointment to Bo...
Sydney - Wednesday - January 14: (RWE Aust Business News) - IT&e (ASX:ITE) says significant improvements have taken place in the company resulting in both a move to profitability and the strengthening of the balance sheet through cash generation. As of 31st December 2008, cash and cash deposits at bank were in excess of $2.0m. As reported at the Annual General Meeting, following the appointment of Andrew Wood as CEO in September, reorganisation of the company's management team and the implementation of a global structure for client operations, have resulted in improvements to client margins and the lowering of the cost base.
ITE Price at posting:
2.3¢ Sentiment: Buy Disclosure: Not Held